Inside The Trader’s Mind
Over the next couple of weeks we will give you some of our thinking about why we are all different in our trading success.
We have been asked what kind of results will we get with your trading system, what percentages of success will I get?
Let’s look at two traders. They have the same capital, [...]
The Excitement of a Flat Market
We have heard many complaints from traders about the market being flat, the market is dead etc. Is that the real problem or is it that traders do not know what to look for when the market is going sideways?
For new traders it is soon learned that sideways markets are great set ups for [...]
Trading in Larger Time Frames
There are three main trading styles.
They are:
Day traders 1-5-15 minute time frames
Swing traders 30 minute to 4 hour time frames
Position traders 1day and longer
(These are general rankings for the time frames of the trading styles)
Day traders go for smaller numbers of pips and large number of lots. They are in and out of the [...]
Holding Trades For A Few Minutes or a Few Days
We hear the pros and cons of trading short term vs. long. If a traders wants to sit in front of their computer for long hours day after day then they can trade short term. If traders love to trade and want to have a life in addition to trading they should look [...]
June 16th, 2008A Conversation I Had
I was talking to another trader about what a currency pair was setting up to do. We both came to the same conclusion. We were waiting for the 4 hour chart to create its next candle to see what the market was saying. What we were looking for was the changes in direction on the [...]
April 17th, 2008A Successful Currency Trader
Your success as a Forex trader is measured primarily by your commitment to studying the markets, learning trading signals, being patient, and waiting until good trades make themselves known. It is also important to manage your money by the amount of lots you trade and where you place the stop losses.
Avoid comparing yourself to other [...]
Timing Is Crucial
We talk a lot about trading in the direction of the trend on the 4-hour chart. That is still one of the key elements of successful trading. It is not only important to follow the trend but you should be aware of a strong trend vs. a weak trend. This can be [...]
March 17th, 2008More Complicated Isn’t Always Better
Much time can be spent reviewing charts, reading and listening to the news, and looking at numerous indicators and signals before entering or exiting a trade. That method is tiring and mind-boggling. After years of trading and talking to other traders there is a common consensus that simple is better. This is where I like [...]
February 25th, 2008Follow The Crowd Or Make Money
I would guess that most of us from time to time have followed the crowd, listened to a news program opinion, took a hot tip, followed the advice of a so-called expert, and soon learned that we were going in the wrong direction. It is also true that we, on occasion, have gone against [...]
February 21st, 2008Should You Trade The News?
Hi everyone. I’ve been getting a lot of questions about when, how and even if you can profitably trade the news, so I decided to write this post to hopefully answer all those questions. It’s kind of long but I think you will benefit from it.
Many times the big pip movements take place when news [...]
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